618 Ramseur St, Durham, NC 27701-4686
- Manufacturing properties
- 2,450 SF
- 0.92 lot acres
Current Use by Public Records
- Nata Bozymski / Real Estate Agency
- Tammi Brooks, Inhabit Real Estate / Real Estate Agency
- Arden Shelton, REALTOR® / Real Estate Agency
- Kirsten Boleyn REALTOR® / Real Estate Agency
- Leigh Brantley REALTOR® / Real Estate Agency
Property Details for 618 Ramseur St
- Lot size
- 0.92 lot acres
- Zone code
- DD-S1
- Property type
- Manufacturing properties
- APN
- 102865
- APU
- 102865
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 4, 2023 | — | Jpa Ventures LLC | — | Deed · related | $1.4M · The Fidelity Bank |
| Feb 8, 2023 | $2,400,000 | Borden Brick 2 LLC | Itac 424 LLC | Special Warranty Deed | $3M · Itac 424 LLC |
| May 28, 2021 | — | Jpa Ventures LLC | — | Deed · related | $250k · The Fidelity Bank |
| May 6, 2020 | — | Jpa Ventures LLC | — | Deed · related | $758k · The Fidelity Bank |
Description
This exceptional investment opportunity presents a 3,910 square foot executive office condo located at 618 E Ramseur St, Durham, NC 27701. The property, a beautifully renovated historic structure (originally built in 1930 and completely updated in 2020), offers a compelling sale/leaseback arrangement with a 10-year absolute NNN lease in place, ensuring minimal owner responsibilities. The building boasts 100% occupancy and a strong net operating income (NOI) of $142,715, translating to an attractive 6.00% capitalization rate. This Class B property is zoned DD-S1 and features ample on-site surface parking. The single-tenant lease provides consistent cash flow and a secure investment. Its prime downtown Durham location offers unparalleled convenience, just minutes from Duke University, Research Triangle Park, the new Apple RTP campus, and RDU Airport. The surrounding area is vibrant, with numerous restaurants, breweries, and easy access to the Durham Bulls Ballpark. This 39% condo interest in the aggregate property represents a rare opportunity to acquire a high-performing asset in a thriving market. The asking price is $2,400,000.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Durham
- County
- Durham
- State
- North Carolina
- Longitude
- -78.8961
- Latitude
- 35.9897
- CBSA code
- 20500
- CBSA name
- DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA
